CBL Insurance signs up for SSP Pure Insurance

SSP has signed up CBL Insurance Limited (CBL), the largest and oldest provider of credit surety and financial risk insurance in New Zealand, to implement its SSP Pure Insurance and E5 Workflow solution into CBL’s operation.

CBL is a 100% owned subsidiary within the CBL Corporation Group. CBL Corporation Limited, the ultimate parent in the CBL Corporation Group, is a NZX and ASX listed company. CBL offers a wide range of credit insurance, reinsurance and financial surety related products through an international distribution network.

SSP Pure Insurance is a highly flexible, end-to-end core insurance system for all lines of business. It includes modules such as product development, policy administration and claims management. SSP Pure Insurance is a fully scalable, web-enabled solution, providing a modern platform for CBL to manage the entire business lifecycle from a single solution.

SSP Pure Insurance and E5 workflow will provide CBL with highly sophisticated policy and claims workflow facilities, enabling them to realise operational efficiencies and generate information intelligence.

Paul Miller, SSP general manager, Asia Pacific said:
“We have built a strong and trusted advisor relationship with CBL, taking time to understand the business and ensuring that CBL’s strict high level requirements which included processing of high value multi-currency bordereaux, automating commission structures, claims processing and access to information,”

“This understanding has enabled SSP to customise the right solution for the client,” Mr Miller said.

With clients in New Zealand and around the world, CBL offers tailored products to individual clients, customised according to the regulatory environments in which they operate.

According to Carden Mulholland, Chief Financial Officer, CBL Insurance, implementing SSPs Pure Insurance and E5 workflow would provide greater efficiencies across the business and enable a uniform level of highest quality management information to support internal and external processes globally.

“As a recently public listed company in New Zealand and Australia, innovation and efficiency is high on our priority list,” Mr Mulholland said.

“Implementing SSP Pure Insurance and E5 workflow will enable us to automate the processing of highly complex charging and commission structures, provide enhanced efficiencies, and provide the management team with information that will enable them to make high quality informed decisions on the operational side of the business,” Mr Mulholland said.